Analysis

PUBLISHED - Jun 27, 2017

The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$48.54 a barrel in May 2017, 3.7% higher than it was a year earlier.  Western Canada Select (WCS), the price obtained for many Alberta producers for oil, averaged US$38.84 a barrel in May 2017, 19.4% higher than it was a year earlier. The differential of WTI over WCS was US$9.70 in May 2017. This represents the narrowest differential since July 2015.